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Pricing decisions are interrelated in oligopoly like Cargill Corp
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estifying at a price fixing trial involving Cargill Corp. also the marketplace for chicken growth hormone, (in which the Cargill is one of only three industries worldwide), an executive for Perdue said: "It's an oligopoly. Whenever one (industry) changes price, they all do usually within minutes."

Elucidate why is it not surprising to find which in an oligopoly which sells a basically undifferentiated product like chicken growth hormone all the industries change prices simultaneously, even if there is no explicit price fixing?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M916352

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